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Australia : ANZ and HONCHO launch new Platform for Small Business.

ANZ bank and Sydney startup, Honcho, announced introduction of a new platform dubbed as Business Switch to help start small business in one day.

The platform offers applicants access to the Business Ready tool, powered by Honcho for a monthly subscription allowing user to develop a website, register an ABN, as well as a business and domain name, with ANZ providing a new business banking account.

In a first of its kind, ANZ small business customers will be referred to Honcho for their services at a discount.

ANZs Mark Hand, Managing Director Corporate and Commercial Banking stated that, There was an estimated 300,000 small businesses set up in Australia every year. One of the biggest frustrations our customers have. Is it takes weeks to get started, and they often dont know what steps to take next. This tool is a simple, efficient, and cost-effective solution that guides customers through the process.

The Business Ready Initiative was part of the $2 billion pledge the bank had committed to small business and discount packages said Hand.

The single biggest issue that new small businesses face, is time. Being able to fast track starting up a business from weeks to hours with only a small capital outlay, enables people to start earning revenue faster and to concentrate on building their customer base, said Matthew Abrahams, Honcho Chief Executive Officer.

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Publication:Mena Report
Date:Mar 5, 2016
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